Yesterday the American indices managed to rise. Today, the NASDAQ 100 is going up even more, the S&P 500 is showing mixed sentiment and the Dow Jones Industrial Average is falling a bit. What can they do next? Let’s try to answer that question in an analysis, S&P 500 first:
S&P 500
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the S&P 500 dropped below 4560. Then, at the beginning of the European trading session, it started rising significantly. In consequence, the price finished the day above the R1 resistance level, at 4585.
During the first hours of today’s Asian trading session, the S&P 500 dropped below 4580. Then, the price started rising. It even reached 4588 at the beginning of the European trading session. Right after that, the price started falling once again. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 4575 today. But if they do, the price might rise above 4590.
NASDAQ 100
NASDAQ 100 wasn’t as strong and volatile yesterday. First, the price managed to rise above the Pivot Point and 15610. After that, it started falling. The price even dropped below 15490 at the beginning of the American trading session. Then, it started rising once again. In consequence, the NASDAQ 100 finished the day a little below 15570.
During the first hours of today’s Asian trading session, the price dropped below the Pivot Point and 15550. Then, it started rising. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach the EMA 200 today. But if the bears counterattack, the price could even drop to 15500.
Dow Jones Industrial Average
The DJIA index was the strongest one yesterday. First, during the early hours of the Asian trading session, the price dropped to 35350. Then, it started rising strongly. The price even went up above the R2 resistance level and 35630 in the evening. However, during the last two hours of yesterday’s American trading session, it fell a bit. In consequence, the Dow Jones Industrial Average finished the day at the R2, slightly below 35600.
During the first hours of today’s Asian trading session, the price dropped below 35550. Then, it started rising. The price even reached 35600 at the beginning of the European trading session. Right after that, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 35500. But if they do, the price might even reach 35650 today.
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